Conventional Loans

Flexible terms and competitive rates for well-qualified buyers.

The most common loan type and for good reason. Conventional loans offer flexibility, competitive rates, and strong options for buyers who have built solid credit and have a down payment to work with.

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Who it’s for

Conventional loans are a great fit if you have a credit score of 620 or higher, a down payment of 3% to 20%+, stable income history, and a debt-to-income ratio that demonstrates manageable monthly obligations.

Key benefits

✓Down payments as low as 3%

✓No upfront mortgage insurance premium

✓PMI cancels when you reach 20% equity

✓Available for primary homes, second homes, and investment properties

✓Flexible terms of 10, 15, 20, or 30 years

Common questions

What people ask about conventional loans

What credit score do I need?

620 minimum, though better rates are available at 740 and above.

Do I need 20% down?

No. 3% is available for first-time buyers. 20% down eliminates PMI.

What is the loan limit?

Conforming loan limits for 2026 are $806,500 in most of Eastern WA and North Idaho.

Ready to see if this is right for you?

Let’s run the numbers together and find out exactly what you qualify for. No pressure, no commitment.

Get Pre-Approved Call (253) 417-8790

Explore other loan programs

Not sure this is the right fit? Browse all available programs.

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